Encouraging diversity within a legal team is often not as simple as an assemblage of policies aimed at promoting tolerance in the workplace; it requires vision and strong leadership to bring out the true potential in any team member.

Things are hardly picture-perfect over at Eastman Kodak Co. The photographic equipment company has selected a new law firm to handle its restructuring as part of its ongoing struggle to avoid bankruptcy.

This is no Kodak moment. The 131-year-old camera company has not been profitable since 2007 and is in talks with potential bidders for its patent portfolio, which could rake in about $3 billion, according to an estimate by MDB Capital Group.